Alston & Bird Consumer Finance ABstract

CFPB Issues Special Edition of Supervisory Highlights Focusing on Junk Fees

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Home being lifted by balloons

A&B ABstract: In the 29nd edition of its Supervisory Highlights, the Consumer Financial Protection Bureau (“CFPB”) focused on the impact of so-called “junk” fees in the mortgage servicing, auto servicing, and student loan servicing industries, among others. CFPB Issues New Edition of Supervisory Highlights: On March 8, the CFPB published a special edition of its Supervisory Highlights, addressing supervisory observations with respect to the imposition of junk fees in the mortgage … [Continue reading] about CFPB Issues Special Edition of Supervisory Highlights Focusing on Junk Fees

As Economic Winds Blow, So Do Whistleblowers: How to Protect Your Company Through Turbulent Times

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Growth chart with arrows

A&B ABstract: As recently reported by the Financial Times, banks are preparing for the “deepest job cuts since the financial crisis,” with firings to be “super brutal.” Already, nonbank lenders and service providers have been suffering with … [Continue reading] about As Economic Winds Blow, So Do Whistleblowers: How to Protect Your Company Through Turbulent Times

The COVID-19 National Emergency is Ending: Are mortgage servicers ready?

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Home mortgage

A&B Abstract: On January 30, 2023, President Biden informed Congress that the COVID-19 National Emergency (the “COVID Emergency”) will be extended beyond March 1, 2023, but that he anticipates terminating the national emergency on May 11, … [Continue reading] about The COVID-19 National Emergency is Ending: Are mortgage servicers ready?

California DFPI Digital Asset Lending Regulatory Year in Review

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Electronic Payments

A&B ABstract: In December of 2022 California released an interagency progress report (“Report”) analyzing the current regulatory status of Web3, Crypto Assets, and Blockchain. The report was prepared pursuant to Executive Order N-9-22 (the … [Continue reading] about California DFPI Digital Asset Lending Regulatory Year in Review